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Fooling the Market? Municipal Yields and Unfunded State Pension Liabilities

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  • Lekniute, Z.
  • Beetsma, R.M.W.J.

    (Tilburg University, School of Economics and Management)

  • Ponds, Eduard

    (Tilburg University, School of Economics and Management)

Abstract

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Suggested Citation

  • Lekniute, Z. & Beetsma, R.M.W.J. & Ponds, Eduard, 2016. "Fooling the Market? Municipal Yields and Unfunded State Pension Liabilities," Other publications TiSEM 591eb14d-c598-4297-a775-7, Tilburg University, School of Economics and Management.
    • Handle: RePEc:tiu:tiutis:591eb14d-c598-4297-a775-72773628374f
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    References listed on IDEAS

    as
    1. Brown, Jeffrey R. & Pennacchi, George G., 2016. "Discounting pension liabilities: funding versus value," Journal of Pension Economics and Finance, Cambridge University Press, vol. 15(3), pages 254-284, July.
    2. Ardagna Silvia & Caselli Francesco & Lane Timothy, 2007. "Fiscal Discipline and the Cost of Public Debt Service: Some Estimates for OECD Countries," The B.E. Journal of Macroeconomics, De Gruyter, vol. 7(1), pages 1-35, August.
    3. Thomas Laubach, 2009. "New Evidence on the Interest Rate Effects of Budget Deficits and Debt," Journal of the European Economic Association, MIT Press, vol. 7(4), pages 858-885, June.
    4. Hastie, K. Larry, 1972. "Determinants of Municipal Bond Yields," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 7(3), pages 1729-1748, June.
    5. Mr. Manmohan S. Kumar & Mr. Emanuele Baldacci, 2010. "Fiscal Deficits, Public Debt, and Sovereign Bond Yields," IMF Working Papers 2010/184, International Monetary Fund.
    6. Eduard Ponds & Clara Severinson & Juan Yermo, 2011. "Funding in Public Sector Pension Plans - International Evidence," NBER Working Papers 17082, National Bureau of Economic Research, Inc.
    7. Reck, Jacqueline L. & Wilson, Earl R., 2006. "Information transparency and pricing in the municipal bond secondary market," Journal of Accounting and Public Policy, Elsevier, vol. 25(1), pages 1-31.
    8. Alicia H. Munnell & Laura Quinby, 2012. "Legal Constraints on Changes in State and Local Pensions," State and Local Pension Plans Briefs ibslp25, Center for Retirement Research, revised Aug 2012.
    9. Bohn, Henning & Inman, Robert P., 1996. "Balanced-budget rules and public deficits: evidence from the U.S. states," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 45(1), pages 13-76, December.
    10. Alicia H. Munnell & Laura Quinby, 2012. "Legal Constraints on Changes in State and Local Pensions," Issues in Brief ibslp25, Center for Retirement Research, revised Aug 2012.
    11. Robert Novy-Marx & Joshua D. Rauh, 2009. "The Liabilities and Risks of State-Sponsored Pension Plans," Journal of Economic Perspectives, American Economic Association, vol. 23(4), pages 191-210, Fall.
    12. Ari Aisen & David Hauner, 2013. "Budget deficits and interest rates: a fresh perspective," Applied Economics, Taylor & Francis Journals, vol. 45(17), pages 2501-2510, June.
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